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Thorne Gregory presented for Alcentra. This firm was established in 2002 and is one of the <br /> largest direct lending firms in Europe. They primarily focus on senior loans to middle and upper <br /> middle market borrowers. Alcentra currently manages over $35 Billion in credit assets. The <br /> loan life for each investment has a 6-7 year life span. A team of strategists and an investment <br /> committee evaluate both private equity sponsored and unsponsored opportunities. A dedication <br /> group of only six senior professionals are authorized to approve loans. In closing, Alcentra's <br /> direct lending funds and strategies have performed to all expectations. It has been rare for them <br /> to experience a realized loss. <br /> William Cullinan from Angelo Gordon and Drew Guyette from Twin Brook presented to the <br /> Board. Through Angelo Gordon, Twin Brook was established in 2014 as the direct lending <br /> subsidiary for Angelo Gordon. It is an employee owned firm with over $25 Billion in assets. <br /> Angelo Gordon was founded in 1988, and is 100% employee owned. They currently hold over <br /> $32 Billion in assets. This firm focuses on the lower to middle market sponsored companies. <br /> The current private credit team has been together for over ten years, and managed through the <br /> last recession this county endured. The company has not had any payment defaults in the past <br /> three years. There are no dealings with device companies or construction companies. Reason is <br /> primarily no exposure to fossil fuels. <br /> Alcentra and Angelo Gordon concluded their presentations by 10:00 am. The board was then <br /> given a chance to discuss each firm. There seems to be more confidence in the Angelo <br /> Gordon/Twin Brook group over Alcentra. Henry feels it would be a great mix for our portfolio. <br /> This group deals with sponsored companies. <br /> The Board will move forward to vote on this RFP at the October Board meeting. This vote could <br /> be delayed if Golub is invited to present in October. <br /> PRIT and Golub will be attending the October meeting for reviews. <br /> Bob Cunha motioned to adjourn the meeting at 10:10 AM, which was seconded by Joe Foley, <br /> and unanimously approved. <br /> The next Board meeting will be held on Thursday October 25, 2018 at 8:00 Am in Cary <br /> Memorial Library. <br /> Robert Cunha, Chairman Alan Fields, Appointed Member <br /> Carolyn Kosnoff, Ex Officio Member Joseph Foley, Elected Member <br /> Frederick Weiss, Appointed Member <br />